PRESIDENT BUSH: Mr. President, thank you for this very frank
exchange. I told the President that I look forward to working with him
over the next four years to continue our close work on keeping peace,
peace on the Korean Peninsula and peace throughout the Pacific region,
and to spread peace throughout the world. And I'm looking forward to
working with him on those matters.

We also spent time talking about our economic relationships, about
how we'll work over the next four years to continue to spread
prosperity to both our people, to make sure the relationship is fair
and equitable on both sides.

I invited President Hu to come and visit the United States as soon
as he can, and he invited me to China. Neither of us committed because
we don't have our schedules in front of us, but, nonetheless, we did
commit to make sure our relationship is healthy and strong.

Thank you, Mr. President.

PRESIDENT HU: Friends from the press, I just had a talk with
President Bush through which we covered many grounds. I first
re-offered my congratulations to him on his re-election to the --
presidency of the United States. We together reviewed how much this
relationship has come in the past four years. We expressed
satisfaction over the positive programs made in a constructive and
cooperative relationship between the two countries.

We agree that the second term of President Bush will be an
important period for continued development of China-U.S. relations. We
are also committed to stronger coordination and cooperation between the
two countries on economic matters and in terrorism, as well as
important international and regional issues.

We also exchanged views on the question of Taiwan. I expressed my
high appreciation to President Bush's adherence to the one China policy
and the three communiqus, and to his opposition to Taiwan
independence.

We also discussed the nuclear issue on the Korean Peninsula. Both
sides expressed the hope that the issue can be solved peacefully
through dialogue.

I would like to thank President Bush for inviting me to visit the
United States, and I have also invited him to visit China. Thank you,
Mr. President.